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The TSO Bollinger Bandit Strategy indicator is based on the Bollinger Bandit trading strategy described in the book by J. Pruitt and J. R. HillBuilding winning trading systems with TradeStation.

  • A full-fledged strategy with inputs and outputs for the trending market.
  • When an input signal appears, it sends notifications by email/push notifications.
  • The indicator is not redrawn.
  • It can be used as part of an Expert Advisor (see the sectionFor developers)

The strategy uses Bollinger Bands as a breakdown indicator, i.e. a signal for a potential entry into a long position is formed when the candle closes above the upper Bollinger band, and a potential short signal appears when the candle closes below the lower band.

In addition to going beyond the Bollinger bands for an input signal, the closing of the current candle should be higher than the closing of X periods back in the case of long positions or lower than the closing of X periods back for short ones.

When opening a position, the stop loss is set according to the moving average. For each period in which the strategy remains in position, the number of periods for calculating the moving average decreases. This happens until the minimum value of the moving average period is reached. After that, the moving average period remains constant.

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An exit signal is generated when the moving average is below the upper band for a long position and above the lower band for a short one. This part has been added so that the system does not return to the same transaction that has just been completed.

  • Settings of Bollinger Bands
    • Period ‚Äď the period of Bollinger bands.
    • Deviation ‚Äď the number of standard deviations between the bands and the moving average.
    • Shift ‚Äď the number of periods to shift the Bollinger bands.
    • Apply to ‚Äď the price used to calculate the Bollinger Bands.
  • Moving Average Stop Loss Settings
    • Period ‚Äď the period of the moving average.
    • Rate of Period Reduction ‚Äď the value by which the period of the moving average will decrease on each candle after the input signal.
    • Minimum Period ‚Äď the minimum value of the moving average period. After reaching this value, the moving average will remain constant.
    • Shift ‚Äď the number of periods to shift the moving average.
    • Method ‚Äď method for calculating the moving average.
    • Apply to ‚Äď the price used to calculate the moving average.
  • Trend Filter Settings
  • Lookback Period ‚Äď the number of periods in the history for analyzing the past closing price, which will be compared with the closing of the current candle to confirm the signal.
  • Maximum Drawn Bars ‚Äď the maximum number of bars on which the indicator will be displayed. For example, if the value is 1000, the indicator will be built on the last 1000 bars of the chart.
  • Setting up an alert
    • ENABLE Metatrader Alerts ‚Äď if the value is ‚Äútrue‚ÄĚ, an alert about the appearance of an input signal will be displayed in the MetaTrader terminal.
    • ENABLE Email Alerts ‚Äď if the value is ‚Äútrue‚ÄĚ, an alert about the appearance of an input signal will be sent by email.
    • ENABLE Push Notifications ‚Äď if the value is ‚Äútrue‚ÄĚ, an alert about the appearance of an input signal will be sent by a push notification.
  • Period ‚Äď the period of Bollinger bands.
  • Deviation ‚Äď the number of standard deviations between the bands and the moving average.
  • Shift ‚Äď the number of periods to shift the Bollinger bands.
  • Apply to ‚Äď the price used to calculate the Bollinger Bands.
  • Period ‚Äď the period of the moving average.
  • Rate of Period Reduction ‚Äď the value by which the period of the moving average will decrease on each candle after the input signal.
  • Minimum Period ‚Äď the minimum value of the moving average period. After reaching this value, the moving average will remain constant.
  • Shift ‚Äď the number of periods to shift the moving average.
  • Method ‚Äď method for calculating the moving average.
  • Apply to ‚Äď the price used to calculate the moving average.
  • ENABLE Metatrader Alerts ‚Äď if the value is ‚Äútrue‚ÄĚ, an alert about the appearance of an input signal will be displayed in the MetaTrader terminal.
  • ENABLE Email Alerts ‚Äď if the value is ‚Äútrue‚ÄĚ, an alert about the appearance of an input signal will be sent by email.
  • ENABLE Push Notifications ‚Äď if the value is ‚Äútrue‚ÄĚ, an alert about the appearance of an input signal will be sent by a push notification.

Key Features of Algorithmic Trading Software

26 April 2018

2.0

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nsrajpal November 16, 2021 8:01 am
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Beautiful Guidance Tool for trading breakouts. Love it. I would like to buy if there is a dashboard to see direction arrows and signals for all charts different time frames using one screen as the indicator is heavy to run on all charts

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